Parsons Capital Management Inc. RI Has $3.25 Million Holdings in CSX Co. (NASDAQ:CSX)

Parsons Capital Management Inc. RI grew its position in shares of CSX Co. (NASDAQ:CSX) by 20.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,669 shares of the transportation company’s stock after buying an additional 16,911 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in CSX were worth $3,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in CSX. Public Sector Pension Investment Board lifted its holdings in shares of CSX by 69.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 74,576 shares of the transportation company’s stock valued at $2,495,000 after buying an additional 30,531 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of CSX during the 2nd quarter valued at about $221,000. The Manufacturers Life Insurance Company raised its stake in shares of CSX by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,570,083 shares of the transportation company’s stock valued at $85,965,000 after acquiring an additional 171,527 shares in the last quarter. Ascent Group LLC raised its stake in shares of CSX by 27.9% in the 2nd quarter. Ascent Group LLC now owns 75,185 shares of the transportation company’s stock valued at $2,515,000 after acquiring an additional 16,406 shares in the last quarter. Finally, Kitching Partners LLC bought a new position in shares of CSX in the 2nd quarter valued at approximately $359,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Performance

CSX opened at $32.99 on Monday. The business’s 50-day moving average price is $33.53 and its two-hundred day moving average price is $33.96. CSX Co. has a 1 year low of $31.43 and a 1 year high of $40.12. The company has a market capitalization of $63.61 billion, a price-to-earnings ratio of 17.62, a P/E/G ratio of 2.06 and a beta of 1.22. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. Equities analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CSX shares. Susquehanna cut their price objective on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada dropped their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Friday. Robert W. Baird dropped their price target on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday. JPMorgan Chase & Co. dropped their price target on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, TD Cowen dropped their price target on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.68.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.